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IRDOpus Genetics, Inc.
$4.23$3.7B
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IRD logoOpus Genetics, Inc.(IRD)Earnings, Financials & Key Ratios

IRD•NASDAQ
$4.18
Price updated Jul 2, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryOphthalmology Therapies and Delivery
AboutOpus Genetics, Inc., a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. The company offers Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as is in Phase III clinical trials for presbyopia and dim light or night vision disturbances. Its lead retinal product candidate is APX3330, a small-molecule inhibitor of reduction oxidation effector factor-1 protein that has completed Phase II clinical trial for the treatment of diabetic retinopathy. The company also develops APX2009 and APX2014 that are preclinical product candidates for retina indications. The company was formerly known as Ocuphire Pharma, Inc. Opus Genetics, Inc. was founded in 2018 and is headquartered in Farmington Hills, Michigan.Show more
  • Revenue$14M+29.1%
  • EBITDA-$39M+37.9%
  • Net Income-$50M+13.8%
  • EPS (Diluted)-0.80+62.8%
  • Gross Margin100%
  • EBITDA Margin-271.53%+51.9%
  • Operating Margin-271.9%+51.9%
  • Net Margin-349.33%+33.3%
  • ROE-449.36%-121.2%

IRD Price & Volume

Opus Genetics, Inc. (IRD) stock price & volume — 10-year historical chart

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Persistent Cash Burn Masks Structural Insolvency Risks

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Clinical trial execution risk

Key Thesis Takeaways

  • Opus Genetics faces a precarious financial outlook characterized by extreme revenue volatility tied to milestone-based licensing and a rapidly deteriorating balance sheet.
  • While the company maintains a $60.0M cash position, the shift toward $25.9M in debt and the emergence of negative $45.8M in equity suggest significant long-term solvency concerns.
  • Investors should remain cautious as R&D expenditures of $10.6M in 2026Q1 continue to outpace revenue, necessitating further capital raises to sustain clinical development.

Verdict Logic

the company's technical insolvency, evidenced by negative $45.8M in equity and a persistent quarterly cash burn of $12.7M, presents an unacceptable risk profile for most institutional investors.

IRD Growth Metrics

Opus Genetics, Inc. (IRD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-29.11%
TTM-12.22%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-82.42%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM32.47%

Return on Capital

10 Years-157.68%
5 Years-74.07%
3 Years-99.98%
Last Year-113.48%

IRD Recent Earnings

Opus Genetics, Inc. (IRD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 5/12 qtrs (45%)
Q2 2026Latest
May 21, 2026
Metric
Actual
Est
EPS
$0.19-18.8%
$0.16
Rev
$4M+22.9%
$3M
Q2 2026
May 12, 2026
Metric
Actual
Est
EPS
$0.75-368.8%
$0.16
Rev
$2M-26.3%
$3M
Q2 2026
Mar 10, 2026
Metric
Actual
Est
EPS
$0.14-27.3%
$0.11
Rev
—
$3M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.12+14.3%
$0.14
Rev
$3M+0.2%
$3M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 21, 2026
$0.19vs $0.16-18.8%
$4Mvs $3M+22.9%
Q2 2026May 12, 2026
$0.75vs $0.16-368.8%
$2Mvs $3M-26.3%
Q2 2026Mar 10, 2026
$0.14vs $0.11-27.3%
—vs $3M
Q4 2025Nov 12, 2025
$0.12vs $0.14+14.3%
$3Mvs $3M+0.2%
Based on last 12 quarters of dataView full earnings history →

Latest IRD News

Recent stock market news and headlines for Opus Genetics, Inc. (IRD)

GlobeNewsWire·Jun 26, 2026
Opus Genetics Added to the Russell 3000®, Russell 2000® and Russell Microcap® Indexes

RESEARCH TRIANGLE PARK, N.C., June 26, 2026 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (Nasdaq: IRD) (the “Company” or “Opus Genetics”), a clinical-stage biopharmaceutical company developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs), today announced the Company will be added as a member of the broad-market Russell 3000®, the Russell 2000® and the Russell Microcap® Indexes, effective when the U.S. market opens on June 29, 2026, as part of the June 2026 Russell indexes reconstitution.

Seeking Alpha·Jun 17, 2026
Opus Genetics, Inc. (IRD) Discusses Early-Stage Gene Therapy Programs and Clinical Strategies for Inherited Retinal Diseases Transcript

Opus Genetics, Inc. (IRD) Discusses Early-Stage Gene Therapy Programs and Clinical Strategies for Inherited Retinal Diseases Transcript

GlobeNewsWire·Jun 16, 2026
Opus Genetics Highlights Five Gene Therapy Programs Targeting Significant Unmet Need in Patients with Inherited Retinal Diseases

Rapidly Advancing Five IRD Programs​ with Four Clinical Data Readouts Expected in 2027 RDH12, MERTK and RHO Programs Expected to Enter Clinical Testing over the Next 12 to 18 Months Cash Runway into 2029 Expected to Fund Multiple Clinical Inflection Points, Potential Product Approvals and Opportunities for Priority Review Vouchers IRD Prevalence Across Select Global Markets Provides a Significant Commercial Opportunity Across Opus Genetics' Pipeline RESEARCH TRIANGLE PARK, N.C., June 16, 2026 (GLOBE NEWSWIRE) -- Opus Genetics, Inc. (Nasdaq: IRD) (the “Company” or “Opus Genetics”), a clinical-stage biopharmaceutical company developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs), hosted a Research and Development (R&D) Science Forum where management and leading IRD experts highlighted the Company's expanding gene therapy pipeline for severe retinal diseases.

Peers Comparison

Key metrics vs top competitors for Opus Genetics, Inc. (IRD)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
IRD logoIRDOpus Genetics, Inc.Current
$4.18$3.63B-5.2329.15%-349.33%-449.36%—
REPL logoREPLReplimune Group, Inc.
$11.22$941.86M-3.32——-128.57%—
JANX logoJANXJanux Therapeutics, Inc.
$14.66$894.03M-8.01-5.55%-529.67%-11.85%—
KRYS logoKRYSKrystal Biotech, Inc.
$371.58$10.95B54.3233.94%53.92%19.25%—
EDIT logoEDITEditas Medicine, Inc.
$3.28$321.13M-1.8225.39%-281.59%-677.39%—
BEAM logoBEAMBeam Therapeutics Inc.
$33.48$3.44B-41.33120.01%-49.17%-5.89%—

Compare IRD vs Peers

Opus Genetics, Inc. (IRD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs REPL

Most directly comparable listed peer for IRD.

Scale Benchmark

vs ALNY

Larger-name benchmark to compare IRD against a more recognizable public peer.

Peer Set

Compare Top 5

vs REPL, JANX, KRYS, EDIT

IRD SEC Filings & Documents

Opus Genetics, Inc. (IRD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 12, 2026·SEC

Material company update

Apr 24, 2026·SEC

Material company update

Apr 22, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 12, 2026·SEC

FY 2025

Mar 31, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 12, 2026·SEC

FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 13, 2025·SEC

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IRD Frequently Asked Questions

Opus Genetics, Inc. (IRD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Opus Genetics, Inc.'s revenue?

Opus Genetics, Inc. (IRD) reported $12.0M in revenue for fiscal year 2025.

How fast is Opus Genetics, Inc. growing?

Opus Genetics, Inc. (IRD) grew revenue by 29.1% over the past year. This is strong growth.

Is IRD profitable?

Opus Genetics, Inc. (IRD) reported a net loss of $106.9M for fiscal year 2025.

Dividend & Returns
What is IRD's return on equity?

Opus Genetics, Inc. (IRD) has a return on equity (ROE) of -449.4%. Negative ROE indicates the company is unprofitable.

What is Opus Genetics, Inc.'s free cash flow?

Opus Genetics, Inc. (IRD) had negative free cash flow of $39.0M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in IRD back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

See returns →